Motorcar Parts of America Nominates Anil Shrivastava to Stand for Election to Its Board
Motorcar Parts of America (Nasdaq: MPAA) has filed its proxy statement for the 2024 annual meeting, nominating Anil Shrivastava to stand for election to its board of directors. Shrivastava, managing partner of 325 Capital (one of MPAA's largest shareholders), brings extensive investment experience to the board. F. Jack Liebau, Jr. was previously nominated in June. Current directors Rudolph J. Borneo and Jamy P. Rankin will retire at the 2024 annual meeting.
Chairman Selwyn H. Joffe expressed excitement about Shrivastava's nomination, highlighting his knowledge of MPAA's business and commitment to collaboration. Shrivastava stated his enthusiasm for MPAA's potential to create significant shareholder value. The board changes reflect shareholder input and the company's commitment to regular refreshment. The 2024 annual meeting is scheduled for September 5, 2024.
Motorcar Parts of America (Nasdaq: MPAA) ha presentato la sua dichiarazione di delega per l'assemblea annuale del 2024, nominando Anil Shrivastava per la carica di amministratore nel consiglio di amministrazione. Shrivastava, partner principale di 325 Capital (uno dei maggiori azionisti di MPAA), porta una vasta esperienza in investimenti al consiglio. F. Jack Liebau, Jr. era stato nominato in precedenza a giugno. Gli attuali amministratori Rudolph J. Borneo e Jamy P. Rankin si ritireranno all'assemblea annuale del 2024.
Il presidente Selwyn H. Joffe ha espresso entusiasmo per la nomina di Shrivastava, sottolineando la sua conoscenza del business di MPAA e il suo impegno alla collaborazione. Shrivastava ha dichiarato il suo entusiasmo per il potenziale di MPAA di creare un valore significativo per gli azionisti. Le modifiche al consiglio riflettono il feedback degli azionisti e l'impegno dell'azienda a un regolare rinnovamento. L'assemblea annuale del 2024 è programmata per il 5 settembre 2024.
Motorcar Parts of America (Nasdaq: MPAA) ha presentado su declaración de poder para la reunión anual de 2024, nominando a Anil Shrivastava para que se postule para el consejo de administración. Shrivastava, socio gerente de 325 Capital (uno de los mayores accionistas de MPAA), aporta una amplia experiencia en inversiones al consejo. F. Jack Liebau, Jr. fue nominado anteriormente en junio. Los actuales directores Rudolph J. Borneo y Jamy P. Rankin se retirarán en la reunión anual de 2024.
El presidente Selwyn H. Joffe expresó su entusiasmo por la nominación de Shrivastava, destacando su conocimiento del negocio de MPAA y su compromiso con la colaboración. Shrivastava manifestó su entusiasmo por el potencial de MPAA para crear un valor significativo para los accionistas. Los cambios en el consejo reflejan las opiniones de los accionistas y el compromiso de la empresa con el refresco regular. La reunión anual de 2024 está programada para el 5 de septiembre de 2024.
모터카 부품 미국(Motorcar Parts of America, Nasdaq: MPAA)가 2024년 정기 주주총회를 위한 위임장 신고서를 제출하고 Anil Shrivastava를 이사회 후보로 지명했습니다. Shrivastava는 MPAA의 주요 주주 중 하나인 325 Capital의 관리 파트너로서 이사회에 폭넓은 투자 경험을 제공합니다. F. Jack Liebau, Jr.는 6월에 이전에 지명되었습니다. 현 이사인 Rudolph J. Borneo와 Jamy P. Rankin은 2024년 정기 주주총회에서 은퇴할 예정입니다.
회장 Selwyn H. Joffe는 Shrivastava의 지명에 대해 기쁨을 표현하며 그가 MPAA 비즈니스에 대한 지식과 협력에 대한 헌신을 강조했습니다. Shrivastava는 MPAA가 주주 가치를 창출할 수 있는 잠재력에 대해 열정을 보였습니다. 이사회 변경은 주주의 의견을 반영하며, 회사의 정기적인 갱신에 대한 의지를 나타냅니다. 2024년 정기 주주총회는 2024년 9월 5일로 예정되어 있습니다.
Motorcar Parts of America (Nasdaq: MPAA) a déposé sa déclaration de procuration pour la réunion annuelle de 2024, nommant Anil Shrivastava pour se présenter à l'élection au conseil d'administration. Shrivastava, associé directeur de 325 Capital (l'un des plus grands actionnaires de MPAA), apporte une expérience d'investissement étendue au conseil. F. Jack Liebau, Jr. avait été précédemment nommé en juin. Les directeurs actuels Rudolph J. Borneo et Jamy P. Rankin prendront leur retraite lors de la réunion annuelle de 2024.
Le président Selwyn H. Joffe a exprimé son enthousiasme pour la nomination de Shrivastava, soulignant sa connaissance des affaires de MPAA et son engagement envers la collaboration. Shrivastava a exprimé son enthousiasme pour le potentiel de MPAA à créer une valeur significative pour les actionnaires. Les changements dans le conseil reflètent les retours des actionnaires et l'engagement de l'entreprise envers un renouvellement régulier. La réunion annuelle de 2024 est prévue pour le 5 septembre 2024.
Motorcar Parts of America (Nasdaq: MPAA) hat seine Hauptversammlung im Jahr 2024 eingeleitet, indem es die Proxy-Erklärung eingereicht und Anil Shrivastava für die Wahl in den Vorstand nominiert hat. Shrivastava, Managing Partner von 325 Capital (einem der größten Aktionäre von MPAA), bringt umfassende Investment-Erfahrung in den Vorstand ein. F. Jack Liebau, Jr. wurde zuvor im Juni nominiert. Die aktuellen Direktoren Rudolph J. Borneo und Jamy P. Rankin werden sich auf der Hauptversammlung 2024 zurückziehen.
Der Vorsitzende Selwyn H. Joffe äußerte Aufregung über die Nominierung von Shrivastava und hob sein Wissen über das Geschäft von MPAA und sein Engagement für Zusammenarbeit hervor. Shrivastava drückte seine Begeisterung für das Potenzial von MPAA aus, signifikanten Aktionärswert zu schaffen. Die Veränderungen im Vorstand spiegeln das Feedback der Aktionäre wider und zeigen das Engagement des Unternehmens für eine regelmäßige Erneuerung. Die Hauptversammlung 2024 ist für den 5. September 2024 angesetzt.
- Nomination of Anil Shrivastava, a principal at one of MPAA's largest shareholders, to the board
- Shrivastava brings extensive investment experience and knowledge of MPAA's business
- Board refreshment aligns with shareholder input and aims to drive sustainable value
- None.
Files Definitive Proxy Statement with the Securities and Exchange Commission
Nominee Is a Principal at One of MPA’s Largest Shareholders and Enhances the Board with Extensive Investment Experience
Mr. Liebau’s nomination was previously announced in June. Current directors Rudolph J.
Mr. Shrivastava is an accomplished investor. He currently serves as managing partner of 325 Capital, one of MPA’s largest shareholders, where he uses data-driven, analytical insights to engage with management teams and boards, working to help develop a blueprint for long-term value creation. He has more than three decades of experience investing in public and private companies on behalf of leading investment firms, including Bain & Co., Sagard Capital and Vestar Capital Partners.
“On behalf of Barbara L. Whittaker, independent director and chair of the board’s Nominating and Governance Committee and the entire board, I am excited to welcome Anil to MPA,” said Selwyn H. Joffe, chairman, president and chief executive officer of Motorcar Parts of America. “325 Capital has been one of MPA’s largest shareholders for several years. During that time, the board and I have had numerous opportunities to engage with Anil and have been impressed by his knowledge of the company’s business and his commitment to working with us as a collaborative partner. We appreciate the constructive dialogue we have had with Anil over the years, including his valuable insights and feedback regarding MPA’s strategy, board composition and other topics, and we look forward to working with him to drive sustainable value for all shareholders.”
Anil Shrivastava said, “We are enthusiastic owners of MPA and believe it can create significant value for all its shareholders. I appreciate the constructive nature of my dialogue with Selwyn and the board and look forward to contributing from inside the boardroom.”
Mr. Joffe added, “On behalf of the entire board and company, I would also like to extend our deep appreciation and gratitude to Rudy and Jamy for their years of service and dedication to MPA. The board has benefited from their many insights and contributions, and we are deeply appreciative of the guidance and oversight they have provided during their tenures. We wish them all the best following their retirement from the board.”
“These changes, which reflect the input of our shareholders, underscore the board’s commitment to regular and thoughtful refreshment,” Mr. Joffe continued. “I am confident that these actions position the company well as we continue to work diligently to build on our positive momentum and deliver sustainable, profitable growth.”
The company’s 2024 annual meeting of shareholders will be held on September 5, 2024.
About Anil Shrivastava
Mr. Shrivastava is an experienced small- and micro-cap company investor. He currently serves as founder and managing partner of 325 Capital, an investment management company, a role he has held since 2020.
Prior to 325 Capital, Mr. Shrivastava was a Partner at Sagard Capital, where he focused on blueprint development, management relationships, and team development, from 2012 to 2018. Previously, he served as a managing director in the Healthcare group at Vestar Capital, a private equity firm, from 2007 to 2023.
Earlier in his career, Mr. Shrivastava spent 15 years at Bain & Company, where he was a partner in the Private Equity and Healthcare Practices and supported clients in the
Mr. Shrivastava graduated with honors in Economics from Harvard College and earned an MBA at Harvard Business School.
About Motorcar Parts of America
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2023 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
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Gary S. Maier
Vice President, Corporate Communications & IR
310-972-5124
Source: Motorcar Parts of America, Inc.
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